The Haas Financial Aid Office will determine and award all LRAP grants. The Program will award each participant a grant on a semi-annual basis equal to the participant’s required minimum monthly payments actually made on eligible loans during the preceding six-month period. (Please note, usually, payments are not required during the initial six months after graduation.) Students not enrolled in a standard repayment plan of ten years or more are encouraged to apply, as we may be able to provide prorated assistance depending on fund availability.
Alumni are eligible to participate at any point while in loan repayment status.
Expect up to 6 weeks for reimbursement from campus.
The Haas LRAP provides 100% reimbursement of minimum monthly payments for graduates with a modified gross income of up to, and including, $95,000, per the calculation below. Those with higher incomes are encouraged to apply, as we may be able to provide prorated assistance depending on fund availability.
|Applicant’s gross wages*|
|+ Other income (business, rental real estate, etc.)|
|+ Housing allowances from employer|
|– $6,000 / dependent child|
|= Applicant’s modified gross income|
*A married participant’s eligible income will be analyzed in two ways. First, it will be calculated based on half of the joint income of the couple and then based on the participant’s own income. The greater of the two calculations will be used to determine eligibility.
Next: Application Procedure